Tag: audit reform

The UK needs an audit and corporate governance reform bill
Adopting proposals ditched by the previous government would foster growth and a transparent, trustworthy business ecosystem.

Business renews calls to government for audit reform
Accountancy body ACCA seeks ‘timetables for addressing key issues such as economic, fiscal and corporate governance reforms’.

What will the new UK government do for governance?
Sir Keir Starmer has committed the Labour administration to ‘service’: by rights, that should include improving business ethics.

Next UK government must ‘promote governance’ to boost investment
‘Our governance regime is an asset of UK plc,’ said the chief executive of the Chartered Governance Institute.

Reform audit ‘payment model’, academic argues
Dirk Beerbaum writes the Wirecard scandal underlines the need to confront the ‘inherent’ conflicts of interest caused by companies paying the auditors who police their financial reporting.

Business leaders call for election promises on audit reform
The Institute of Directors’ ‘Manifesto for Business’ also seeks change to section 172 to promote company purpose.

Industry body opens consultation on internal audit code of practice
Code addresses need for ‘robust, competent and appropriately resourced internal audit’, according to the Institute of Internal Auditors.

Governance chiefs lambast ‘capricious abandonment’ of audit reform
Chartered Governance Institute writes open letter calling for Kemi Badenoch to restart reform agenda.

Regulator updates UK governance code
Reporting on internal controls is a key feature of the scaled-down 2024 update, as is the principle of ‘comply or explain’.

Big Four continue to dominate audit market
FRC review of audit market competition reveals 98% market share that ‘leaves little room for challengers to emerge’.